Byte Dance, the internet technology company that owns the video-sharing app TikTok, will announce its investment plan in China soon. An insider revealed that its employees in Shanghai will reach 20,000 in the next three years.

Since Byte Dance set up a branch in Shanghai in 2014, it has invested a total of 7.5 billion yuan in the city. Among the more than 6,000 employees, over 2,000 are professional technical talent such as designers, R&D engineers, and information technology scientists. In the next three years, more than 10,000 professional technical posts will be set up in the city.

Moreover, the e-commerce business in Shanghai will be integrated into TikTok’se-commerce business. The game and education business will also expand.

According to the insider, the company is also increasing its investment in Beijing. “The business environment and most importantly the talent are the reason for our investment. Where there is talent, there are our investments,”said the man. In the period of the company's rapid development, the talent gap is so large that it has become a major bottleneck in business expansion.